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Please answer and explain how you get them, thank you Spotter Corporation reported the following for June in its periodic inventory records. Date Description June
Please answer and explain how you get them, thank you Spotter Corporation reported the following for June in its periodic inventory records. Date Description June 1 Beginning 11 Purchase 24 Purchase 30 Ending Units 20 66 34 38 Unit Cost $10.80 11.80 13.80 Total Cost $216.00 778.80 469.20 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO. (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.) Answer is complete but not entirely correct. Cost of Cost of Ending Goods Inventory Sold FIFO $ 516.40 $ 947.60 LIFO $ 428.40 $ 1,035 60 Weighted Average s 1,000.40 s 463.60 X Cost Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January, Sales totaled 290 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units Unit Cost 140 $ 80 330 90 250 110 Total Cost $11,200 29,700 27,500 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO. (b) LIFO, and (c) weighted average cost methods. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods. Cost of Ending Cost of Goods Inventory Sold $ 24,700 FIFO LIFO Weighted Average Cost
Please answer and explain how you get them, thank you
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